Secured Portion definition

Secured Portion means, at any time, a portion of the Obligations consisting of the obligation to deliver cash or property with a value, as determined by the Calculation Agent (as defined in the Securities Contract), equal to the value, as determined by the Calculation Agent in a consistent manner, of the Collateral then pledged to the Beneficiary under the Pledge Agreement.

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Secured Portion means, as of any date of determination, the outstanding principal amount of loans equal to (a) with respect to the loans under all Credit Facilities, the sum of $1,005,000,000 minus the principal amount of the Secured Portion of loans under the Credit Facilities that have been repaid after the Amendment Effective Date, (b) with respect to Revolving Credit Loans (and excluding for the avoidance of doubt Letter of Credit Obligations, which are included in the Unsecured Portion), the sum of $487,500,000 minus the principal amount of the Secured Portion of Revolving Credit Loans that have been repaid after the Amendment Effective Date, and (c) with respect to Term Loans, the sum of $262,500,000 minus the principal amount of the Secured Portion of Term Loans that have been repaid after the Amendment Effective Date provided that from and after the occurrence of the Security Release Trigger, the Secured Portion shall equal zero (0) and none of the Obligations under this Agreement and the other Credit Facility shall constitute the Secured Portion.>

Secured Portion means the Sterling Equivalent Amount of the Applicable Collateral Percentage of the aggregate outstanding amount available to be drawn down under the Letters of Credit.

Examples of Secured Portion in a sentence

Upon completion of the TI Work in accordance with this Lease, Landlord shall credit any unused Secured Portion against Rent next coming due under this Lease.
Unless otherwise agreed by the Borrower and the Requisite Lenders after the Amendment Effective Date, any voluntary partial prepayment of the Loans shall be applied to the repayment of the Loans under the Credit Facilities on a pro rata basis pursuant to the Intercreditor Agreement, first to the Unsecured Portion of the Credit Facilities until fully repaid and then to the Secured Portion of the Credit Facilities.
In the event this Lease is terminated and except to the extent such termination is due to an Event of Default by Tenant, within ten (10) business days following such termination, any unused Secured Portion shall be immediately released.
Subject to the terms of the Security Agreement, if the Company does not pay the applicable outstanding principal amount within 30 days of such demand, the Holder may elect to enforce its security interest, being a first-ranking security interest against the membership interests of New Rise and New Rise Reno, in the Secured Portion specified in the Security Agreement.
Each Lender will hold the Secured Portion of the Facility and the Unsecured Portion of the Facility ratably in accordance with its Pro Rata Share of the Facility.
Commencing with the fiscal quarter ending June 30, 2020 and until the occurrence of the Security Release Trigger, as of the end of each fiscal quarter, the ratio of (i) the aggregate Annual EBITDA of the Borrowing Base Properties divided by (ii) the Secured Portion of the Credit Facilities shall not be less than (A) for the fiscal quarters ending June 30, 2020, September 30, 2020, December 31, 2020, and March 31, 2021, 10%, and (B) for the fiscal quarters ending June 30, 2021 and thereafter, 12%.
Each Term Lender will hold the Secured Portion of the Term Facility and the Unsecured Portion of the Term Facility ratably in accordance with its Pro Rata Share of the Term Facility.
Schedule 2.11 attached hereto sets forth the Secured Portion and the Unsecured Portion of the Loans for each Lender as of the Amendment Effective Date.
Other than with respect to the Collateral, the voluntary prepayments set forth in Section 4.1(a) and the mandatory prepayments set forth in Section 4.1(c), all other payment and interest terms (including Interest Periods) applicable to the Loans will be ratably applicable to both the Secured Portion and the Unsecured Portion thereof, and any partial assignment of the Facility must be made as a proportionate assignment of both the Secured Portion and the Unsecured Portion thereof.
Schedule 2.11 attached hereto sets forth the Secured Portion and the Unsecured Portion of the Term Facility for each Lender as of the Amendment Effective Date.

More Definitions of Secured Portion

Secured Portion means, in relation to any Covered Series, the portion of the Notes which have the benefit of the Security (as specified in the applicable Pricing Supplement or Final Terms).

Secured Portion of the membership interests shall equal a percentage equal to 100 times (a) the original balance of the Promissory Note, less the sum of amounts paid in cash by Pledgor under the Promissory Note and the amount of gross cash proceeds received by Secured Party through sales of common stock obtained as payment or upon conversion of the Promissory Note, divided by (b) the original balance of the Promissory Note; provided however, that the Secured Portion shall not be adjusted downward below 10% until the time the Earnout Reconciliation has been finalized (the “Earnout Security Portion”). For example, if the original principal amount of the promissory note is $500 million, and $100 million has been paid in cash, then the Secured Party shall have a security interest solely in 80% of the membership interests in each of New Rise Renewables, LLC and New Rise Renewables Reno, LLC, calculated as 80% = 100* (500-100)/500. Notwithstanding the foregoing the Secured Portion of the membership interests in New Rise Renewables, LLC, a Delaware limited liability company and New Rise Renewables Reno, LLC, a Delaware limited liability company shall be all of the membership interests in New Rise Renewables, LLC, a Delaware limited liability company and New Rise Renewables Reno, LLC, a Delaware limited liability company until the initial payment is made under the Note. Upon completion of the Earnout Reconciliation, the remainder Earnout Security Portion and corresponding Collateral shall be released if it is determined that the Pledgor does not owe any further payment to the Secured Party as a result of the Earnout Reconciliation. If the Pledgor owes an additional payment pursuant to the Earnout Reconciliation, the security interest shall remain in the Earnout Security Portion and corresponding Collateral until such time it is paid by Pledgor and following such payment, released.

Secured Portion means, with respect to any Indebtedness under Section 6.01(a)(viii), either of the following as applicable: for 'European Options', up to the present value of the put strike; or, for 'American Options', up to the strike price."

Secured Portion means, in relation to any Covered Series, the portion of the Notes which have the benefit of the Security (as specified in the applicable Pricing Supplement or Final Terms);